The Blockchain Association has introduced a comprehensive roadmap for the cryptocurrency industry to the administration of President-elect Donald Trump. In a detailed letter sent to Trump and the new Congress, the association addressed the regulatory challenges faced by the crypto sector while emphasizing significant steps to support innovation.
Regulatory Framework and Banking Access
The Blockchain Association underscored the necessity of establishing a clear and comprehensive regulatory framework for digital assets. They called for bipartisan support to implement market structures and stablecoin regulations that would foster innovation while preventing consumer harm.
The association noted that depriving crypto companies of banking access negatively impacts their ability to make payments to employees, vendors, and government taxes. They expressed that this restriction on financial services has created serious disruptions within the industry.
Proposal for a Crypto Advisory Council
One of the Blockchain Association’s top priorities is to seek changes within the Securities and Exchange Commission (SEC) and the Department of Treasury. They emphasized concerns regarding the current regulatory approach of SEC Chairman Gary Gensler.
The letter expressed hopes for a more libertarian and collaborative regulatory approach under a new SEC chair. They also called for focusing on fair tax practices and privacy protections for crypto assets within the Treasury Department.
Trump proposed establishing a crypto advisory council to guide digital asset policies and support innovation. The Blockchain Association argued that this council should facilitate collaboration between the government and the private sector, creating balanced policies.
“We are ready to work with the administration to make the U.S. a global leader in crypto innovation.” -Blockchain Association.
Ripple 
$1 CEO Brad Garlinghouse expressed optimism regarding the potential impact of the Trump administration on the crypto industry. He noted that while the Biden administration had a negative stance toward the sector, he believed the new administration would adopt a more favorable approach.
The priorities presented by the Blockchain Association include steps the Trump administration could take to support innovation in the crypto asset sector and reduce regulatory uncertainties. These proposals aim to enhance America’s competitiveness in global crypto markets.
